Fortress Financial Group LLC Takes Position in Apollo Global Management, Inc. (NYSE:APO)

Fortress Financial Group LLC purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,080 shares of the financial services provider’s stock, valued at approximately $509,000.

Several other hedge funds have also added to or reduced their stakes in the business. Byrne Asset Management LLC acquired a new position in shares of Apollo Global Management in the fourth quarter valued at approximately $37,000. Retirement Wealth Solutions LLC acquired a new position in Apollo Global Management in the 4th quarter valued at $39,000. UMB Bank n.a. grew its holdings in Apollo Global Management by 447.1% in the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after buying an additional 228 shares in the last quarter. Versant Capital Management Inc increased its position in Apollo Global Management by 203.6% during the 4th quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider’s stock worth $83,000 after buying an additional 336 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in shares of Apollo Global Management during the fourth quarter worth $89,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on APO. Citigroup upped their price target on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Piper Sandler increased their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Evercore ISI boosted their price target on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their price target on Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and an average target price of $165.74.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $147.29 on Friday. The company’s 50 day moving average price is $163.83 and its two-hundred day moving average price is $148.73. The firm has a market capitalization of $83.34 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.17 and a beta of 1.63. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.26%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Insider Buying and Selling at Apollo Global Management

In related news, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $174.16, for a total value of $23,232,944.00. Following the completion of the transaction, the insider now owns 35,471,373 shares in the company, valued at $6,177,694,321.68. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the sale, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,600 shares of company stock worth $34,977,528. 8.50% of the stock is currently owned by insiders.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.